sub prime and improving credit

Student_of_£

Hi! At the moment I have:

- A Capital Once Classic Visa (£200 limit) had since Jan been using since July. Pay in full every month.
- A phone contract with vodafone.

I am a final year student, and hoping to have a job next year when I leave uni!
Firstly I was wondering about maybe getting a second card (another sub-prime or Barclaycard initial) would this do me any good for my credit rating.
I also want to apply for a "mainstream" card, when should I do this, I apparently have a 10-60% chance of being accepted for a BC Initial.
I also plan on keeping the Cap One and keep on using it for small purchases as it will be my longest running credit card account, but I also want to get a mainstream card.

Thanks

wiseshark

Ok so you have two credit accounts, mobile and Capital one Classic.

I am surprised that you didn't use the Capital One card as soon as you received it in January, but waited until July. Never mind , you are now using it and must continue to use it regularly each month and repay in full.

With regard to acquiring a mainstream card which should be everyone's goal, your bank is your best bet as they will know your financial behaviour. You have not mentioned anything about a student cc or overdraft, so therefore I presume that you have been turned down at some stage.

I would suggest keep using the Cap One and maybe apply for a Vanquis in a few months from now as they have a high acceptance rate, but you must repay in full as their interest is sky high.

The Barclaycard initial is more difficult to obtain and as you only have a 10-60 per cent chance, I would say hold off for now.

In a couple years time after demonstrating a good repayment history, you can try for a mainstream card. Good luck.